Twitter has priced its widely-anticipated IPO at $26/share, with 70 million shares expected to begin trading today on the New York Stock Exchange (NYSE) after the 9.30am ET opening bell.
Underwriters also have the option to buy an additional 10.5 million additional shares of common stock.
Twitter made the announcement – where else – via a tweet.
We just priced our IPO. pic.twitter.com/NWXaO4Myq0
— Twitter (@twitter) November 6, 2013
Note that the TWTR stock might not start trading immediately on the opening bell – it typically takes a period of time to sort out niggles with big IPOs and Twitter’s is as buzzy as they come. They’ll be looking to avoid a repeat of Facebook’s problems during their IPO, but as I’ve said time and again the momentum is with Twitter and I’d be really surprised if they don’t see a strong, first-day pop. Indeed, some analysts are forecasting a quick jump to $40 with expectations of $70-80 before the close. Let’s wait and see – we’ll update accordingly throughout the day.